Global Flexible Packaging Market report offers the latest industry trends, technological alteration and forecast data. A deep-dive view of Flexible Packaging industry based on its size, growth, development plans, and opportunities is offered by this report. The forecast information, SWOT analysis, Flexible Packaging barriers, and feasibility study are the vital aspects evaluated in this report.
Global Flexible Packaging Market is expected to
reach USD 293.03 billion by 2022. Flexible packaging is termed as a packaging
material that is easily stretchable, thin, and light but retains the barrier
properties. Moreover, this packaging material is puncture resistant. It is a
process for safe, durable, and convenient food and beverage packaging.
Innovation in the packaging help extend the shelf life of the product and keep
it safe.
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Moreover, it also acts as a barrier against dirt,
moisture, temperature, and microbes. They are exclusively used in the
industries like dairy products, electronics, healthcare products, sporting
goods, household appliances, and cosmetics. The flexible plastic films are not
manufactured in developing regions but are imported from developed regions. The
Flexible Packaging Market is estimated to grow at a significant CAGR of 4.7% over
the future period as the scope and its applications are rising enormously
across the globe.
High demand from sporting goods, healthcare, household
products, cosmetics & toiletries, food & beverages, and other products
companies, technological enhancement, easy storage and transportation, and
convenient packaging are documented as major factors of Flexible Packaging
Market that are estimated to enhance the growth in the years to come. However,
recyclability of packaging material and strict government policy are the
factors that may restrain overall market growth in the coming years. Flexible
Packaging Industry is segmented based on material type, product types,
application, and region.
Cellulosic, polymer, aluminum, paper, and other material
types could be explored in Flexible Packaging in the forecast period. polymer
sector includes poly styrene, polyethylene (PE), ethylene vinyl alcohol (EVOH),
polypropylene (PP), poly vinyl chloride (PVC), biaxially-oriented polypropylene
(BOPP), polyamide (PA), cast polypropylene (CPP), and biaxially-oriented
polyethylene terephthalate (BOPET).
There are numerous products like squeezable bottles,
stand-up pouches, laminated tubes, vacuum pouches, wicketed bags, retort pouches,
gusseted bags, converted roll stock, and others could be explored in Flexible
Packaging in the future period. Stand up pouches accounted for the largest
market share of Flexible Packaging and is estimated to lead the overall market
in the coming years. This may be because of rising usage in industries like
food & beverages, cost efficient transportation, and high sealing ability.
The market may be categorized based on applications like
industrial & institutional, consumer, and others that could be explored in
Flexible Packaging in the foremost period. Consumer application sector includes
tobacco, food & beverages, pharmaceutical, and personal care. Food &
beverages sector accounted for the largest market share and is estimated to
lead the overall market in coming years.
The key players of Flexible Packaging Market are
Huhtamaki Group, Amcor Ltd., Sonpoco Products Company, Constantia Flexibles
Group, Bemis Company, Wipak Group, Mondi Group and Sealed Air Corporation,
Clondalkin Group Holdings BV, Ampac Holdings, and Ukrplastic. These players are
concentrating on inorganic growth to sustain themselves amongst fierce
competition. As such, mergers, acquisitions, and joint ventures are the need of
the hour.
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